Minera Alamos Announces Stock Option Grant with Vesting Tied to Production Milestones
Minera Alamos Announces Stock Option Grant
with Vesting Tied to Production Milestones
Toronto, Ontario and Vancouver, British Columbia--(Newsfile Corp. - March 18, 2021) -
Minera Alamos
Inc.
(TSXV: MAI)
(the "Company" or "Minera Alamos")
The Board of Directors of Minera Alamos
has approved the issuance of up to 7,250,000 options to Management, Directors, Employees and
Consultants pursuant to its stock option plan. The options are exercisable at a price of $0.72 and expire
in five years and are subject to certain vesting provisions based on attaining specific production
milestones.
"It is approaching two years since the Company has provided a group wide option grant. These options
represent a way of rewarding the exceptional efforts of the team in executing on our development
strategy during difficult circumstances," stated Doug Ramshaw, President. "Notwithstanding the past
value creation, we felt it important to tie vesting of the options to future execution. As such the team will
need to continue to deliver for its shareholders by meeting certain production related milestones for the
options to fully vest."
For Further Information Please Contact:
Minera Alamos Inc.
Doug Ramshaw, President
Tel: 604-600-4423
Email:
Website:
www.mineraalamos.com
Victoria Vargas de Szarzynski, VP Investor Relations
Tel: 289-242-3599
Email:
About Minera Alamos Inc.
Minera Alamos is a gold development company poised to join the ranks of gold producers in 2021. The
Company has a portfolio of high-quality Mexican assets, including the 100%-owned Santana open-pit,
heap-leach development project in Sonora that is currently under construction, and which is expected to
have its first gold production in the first half of 2021.
The newly acquired 100%-owned Cerro de Oro
oxide gold project in northern Zacatecas that has considerable past drilling and metallurgical work
completed and could enter the permitting process rapidly. The La Fortuna open pit gold project in
Durango (100%-owned) has an extremely robust and positive preliminary economic assessment (PEA)
completed and the main Federal permits in hand. Minera Alamos is built around its operating team that
together brought 3 mines into production in Mexico over the last 13 years.
The Company's strategy is to develop very low capex assets while expanding the projects' resources
and continuing to pursue complementary strategic acquisitions.
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